Have you written out your New Year’s resolutions yet? How about for your business? The New Year is the perfect time to take stock of what is working (and not working) for your business and to set goals that will create greater, more sustainable success.

One of the biggest factors in the success of a business is maintaining positive cash flow. No matter the kind of business, there will always be customers who can’t pay on time or, in some cases, at all. While this may be inevitable, the way you handle these delinquent accounts can determine the financial health of your business, as well as the health of your relationships with customers. So how can you guarantee that 2015 will be the best year yet? Here are three accounts receivable resolutions your business should make for the coming year:

1. Be proactive.

When it comes to delinquent accounts, timing is everything. Many business owners wait until delinquent accounts accumulate and age before beginning pursuit. However, the older an account gets, the less collectible it becomes. The best way to counter delinquent accounts, is to prevent them. Being proactive about your accounts receivable will prove to be easier, more economical, and more effective than treating problems after it is too late.

2. Embrace a non-alienating approach.You may not always be able to prevent delinquent account from coming your way. What you can do is determine how you handle them when they do.

Aggressive tactics don’t work. In fact, they cost many businesses valuable customers. But what if you were able to recover money owed while also creating a positive customer experience that led to loyal, life-long customers? Well, you can. Delinquent accounts create an opportunity to work with customers in a way that reveals the integrity of your business. By using a non-alienating approach in the collections process, you will find that it is easier to work out a solution that satisfies both your business and the client. Plus, this positive experience will keep your customers coming back and telling their friends about your business.

3. Invest in the right tools.

Your business is as good as the tools it uses. Today, most people-- including those dealing with debt in collections-- expect digital solutions to be available, while still desiring a personalized experience. This means that it is important to offer user-friendly technology that makes customer interactions easier. It also means getting the help you need to create the best possible personal experience for your customers.

Technology alone cannot offer your customers what they need, and relying on internal staff that is not trained in collections is not likely to garner the best results. Your best tool for developing a process that is personalized, professional, and effective is an experienced agency that will help your team establish the proactive, non-alienating systems that will guide your business to positive cash flow and successful customer relationships.

Here’s to healthy cash flow, life-long clients, and a happy New Year!

TekCollect provides the most advanced accounts receivable, collections, and client retention services available. Our executive leadership team has a combined 200+ years in the credit and financial service industries. To learn more about us, visit our website and follow us on Facebook and Twitter.

‘Tis the season of giving. Volunteers are ringing bells on street corners to raise money for those in need, people are donating toys to be given to children they've never met, and all over the world people are exchanging gifts with the ones they love. It really is the most wonderful time of the year.

However, when the season ends (and deadlines, commitments, and everyday stresses return), the spirit of giving begins to fade. But what would happen if it didn't? It turns out, keeping that giving attitude around all year long might just be good for business.

Here are three ways your business can keep the spirit of giving alive all year long:

1. Stop selling; start giving.

As Robert Louis Stevenson said, “Everyone lives by selling something.”

No matter what your business is, you have a customer and something you are selling them. Instead of focusing on what you are selling, take a moment to think about why you are selling it. How does your product help businesses achieve the success they are striving for? How do your services make the day-to-day lives of your customers easier? What does your product or service have to give.

When you stop focusing on simply selling and begin to see your services as a gift, you’ll be able to truly appreciate the benefits of what your company offers. With this perspective, you can translate the understanding of those benefits into business goals and successful client interactions.

2. Give customers a personal experience.

In a world overloaded by big data, personal touch often gets lost among the analytics. For many businesses, customers have become numbers on a page. And those customers have noticed. More and more, people are looking for personalized customer service and their loyalty is contingent on positive experiences. In fact, one negative customer service experience can define they way they view your entire business.

By valuing your customers as individuals, you will be able to create authentic connections and address their specific needs. This not only allows for smoother interactions, but creates genuine positive experiences that will keep customers coming back. And customers coming back is one of your business' greatest assets.

3. Giving builds community.

The company that gives together, succeeds together. Create initiatives that build community by benefiting others.

In honor of Breast Cancer Awareness month, our company, TekCollect, made a donation to the American Cancer Society for every employee that wore pink to a special luncheon. This created an opportunity to incorporate teamwork into the act of giving. Giving as a company is a great way to not only underline the values and integrity of your business, it also boosts morale and creates community.

After all, if a happy team is a more productive team, and giving has been proven to boost happiness, then it just makes sense to put the two together.

So come January 2nd, don’t pack away the spirit of giving with the holiday decorations. Develop a culture of giving within your office that lasts all year long. We think you'll find it's better for your business.

TekCollect provides the most advanced accounts receivable, collections, and client retention services available. To learn more about us, visit our website and follow us on Facebook and Twitter.